"Sieve Capital has launched a campaign focusing on Patterson and his unnamed boardroom allies for pursuing short-sighted deals and bringing poor governance practices to Americold, a cold-storage REIT."
"If shareholders take the time to review publicly available information pertaining to Mr. Patterson's history as a fiduciary, we believe they will conclude there is no basis or justification for him remaining involved with Americold."
"Sieve Capital pointed to an instance at Paramount, where Patterson was voted out by a majority of shareholders in 2021 only for Paramount to overrule the shareholders, as another example of poor corporate governance."
Sieve Capital is campaigning for the removal of Mark Patterson as chairman of Americold Realty Trust, citing his controversial tenure at Paramount Group. The activist investor criticizes Patterson for poor governance practices and short-sighted deals. Sieve Capital believes shareholders will find no justification for Patterson's continued involvement. They are also advocating for a review of strategic alternatives, including a potential sale of the company. Patterson's past business dealings and governance issues at Paramount are highlighted as significant concerns.
Read at therealdeal.com
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